Manhattan’s pandemic-era canyons of largely empty office buildings are slowly filling back up, according to a new survey.
Roughly half — 49 percent, to be precise — of workers are in the office on an average weekday, a survey of 160 major Manhattan employers by the Partnership for New York City found. By comparison, that number stood at 38 percent in April, the study states.
But, with apologies to Mayor Eric Adams, most workers are still staying at home in their pajamas at least part of the week, the survey of 160 major Manhattan employers by the Partnership for New York City found. “Only 9% of employees are in the office five days a week,” the survey states.
The survey found that remote work is here to stay in some form, with 77 percent of employers saying a hybrid office schedule will be their predominant post-pandemic policy. Of employers with a hybrid model, 55 percent of their workers are in the office at least three days a week, the survey states.
Employers also expect the number of in-office workers to rise, albeit slowly — the survey found 54 percent of workers likely will be in the office on an average weekday by January 2023.
And major employers, despite their still-sparse offices, don’t expect to give up their physical workplaces.
“Employers remain committed to staying in New York City: 54% expect their office employee headcount will increase or stay the same over the next five years; only 10% expect a decline,” the study states. “Moreover, most do not have plans to reduce their real estate footprint in the city at this time despite the increase in days of remote work.” You can read more here.
This is a topic that we watch closely as it affects the residential real estate market. We understand that working from home or the flexibility to do so is appealing but there is no substitute for being in the office surrounded by your colleagues. Come visit us at 70th and Madison Avenue!